If you’re new to the forex trading scene, you might be in search of some way to get the hang of things and better hoan your skills without risking all your money. Here’s where demo accounts come in. These accounts give you the opportunity to practice trading without risking your money. In this article, we’ll tell you how demo accounts can offer a risk-free way to perfect your training skills.

What Are Demo Accounts?

Demo accounts are basically free trials offered by brokers (not every broker offers them) that allow you to try trading on that broker’s platform using virtual money, meaning you’re not risking anything before you’re ready to make trades. Some brokers require a deposit to take advantage of their demo accounts, but the risk-free practice is well worth it.

Why Should You Use Demo Accounts?

Demo accounts offer you the opportunity to get acquainted with your new broker’s trading platform, practice trading without risk, test new currency pairs to trade, and try out new brokers, comparing and contrasting them. As you can see, demo accounts can benefit all levels of traders from beginners all the way to well-seasoned traders. Whether you’re trying to get the hang of trading with new currency pairs or trying to pick a new broker, demo accounts can even help seasoned traders. There are so many benefits that demo accounts can offer you; there’s little to no reason not to at least try a practice account.

What Should You Know Before Deciding on a Demo Account?

As we said before, some brokers that offer demo accounts require a deposit before you can start trading with the demo account; this is important to note before you jump in. Each platform is different and each broker requires a different deposit. Some require just a small five-dollar deposit, others require as much as $250 be deposited, and some require no deposit at all. Likewise, some don’t offer demo accounts at all and others are just trying to scam you out of your money. It’s important to pay attention to the details before you sign up.

Trying to figure out your way around forex trading can be challenging, especially for those who haven’t had any experience with it before. Demo accounts give you the opportunity to practice trading with no risk at all. Beyond that, demo accounts can also benefit seasoned traders by helping them get some practice trading new currency pairs or finding the ideal broker for them. Demo accounts are an excellent option for many traders to practice forex trading at little to no financial risk to them. It’s important to note, however, that some brokers require deposits to gain access to these accounts and for some, the deposit is quite hefty.

I was about to transfer some donation to a personal Maybank account. After I key in my TAC number, I received: Unsuccessful – Account is not authorized. Reject Code: [0076]

I was quite surprised. Because I am pretty sure that I still have sufficient balance. So I did some research on Maybank Facebook Page. I foundout that error code 0076 refers to account not authorized normally due to:

Amount payable is not matched with the outstanding/ due amount (for credit card/ loan payment).

Audit Trail

So my guess is that maybe the account has too many transactions. Did you know that for Savings Accounts, the number of transactions that can be done is limited to 30 pages/bank book pages or 120 transactions within the 5th to 20th day of the month or the 21st to the 4th day of the following month.

This is because savings accounts are intended for savings or income/salary credits. If your account has a high account transaction frequency, your ‘audit trail’ of your account will be full and transactions are not possible.

How To Solve

To resolve this, please bring your ID, ATM card and bank book (if available) and visit the nearby Maybank branch counter for the branch to assist you in updating (clear audit trail) of your account.

If you intend to use an account for business purposes, Maybank will recommend that you apply for a current account opening that can accommodate an unlimited number of transactions.

You can request a M2U Premier account opening with a minimum deposit of RM500 only. Applications can be made online through Maybank2U. For more information, please refer to the following link:

http://goo.gl/z22Hu – Maybank2u.Premier

If you have Maybank2u access, you can apply by following the steps below:

> Login> Home> Apply Online> Maybank2u Premier

If you do not have Maybank2U access, you can apply by visiting Maybank2U’s website at www.maybank2u.com.my and follow the steps below:

Apply Online> Maybank Account> Maybank2u Premier

* Please note that this service operates from 8:30 am to 5:00 pm daily.

Maybank always comes with new innovations to enhance customer experience with online banking. Maybank has come up with an update for Maybank App Online that is Biometric Login.

Now you can choose from 3 biometric features to log in to your Maybank2u app. Biometric login offers three personalises security features that are unique to make online banking easier and faster for a user.

With Biometric Login, a user can choose Face ID, Voice ID as well as Quick Touch.

Activate Biometric Login today, and you can access all your accounts in mere seconds using your facial points, voice pattern and fingerprint.

How To Set Up Biometric Login

Face ID & Voice ID

Please use the latest Maybank App to get this n Biometric Login. You can check it on Google Play for new Maybank App here.

Step 1: After you have installed the new Maybank2u App, you will get a reminder on Biometric Login like below. Also, you can check at Login Details on the App menu and click for Biometric Login

Step 2: Then select which biometric login that you want to enable, Just select ‘Agree & Proceed’. If your phone has no thumbprint scanner, so just choose Voice ID and Face ID.

Step 3: Next, enter your favourite phrase. Please enter more than one phrase. Because you will have to say it a few time so the Maybank2u app can record it. Enter your own phrase in two to three words for Voice ID and select ‘Continue’

Step 4: Ok, then Select ‘I’m Ready’ to continue.

Step 5: Make sure you wear your glasses if you have, before Maybank2u app capture your face. Follow the on-screen instructions to capture your face and voice. Please repeat the phrase 3 times to complete the process.

Step 6: Once completed, select ‘Done’ to continue.

Step 7: Choose your default biometric login and you can log in with ease.

My experience with Face ID, no that smooth. It still takes some time to scan my face, Maybe my phone is quite old. But still, I can log in, You can change from Face ID to Voice ID, No problem,

This new biometric login just allows you to check your balance. If you want to transfer your Maybank money, you still have to enter your password.

Claim Money Online Next Year

Great news, starting next year you can check your unclaimed money online. According to Deputy FinanceMinister Datuk Othman Aziz, the government will launch the Electronic Government Unclaimed Money Information System (eGUMIS) in the second quarter of next year to facilitate the revision of unclaimed money status, especially by rural people.

The Deputy Finance minister said there were 52,015 applications to claim unclaimed money made this year with 34,353 applications from around Kuala Lumpur alone. “The Accountant General of Malaysia will also join the Mobile Community Transformation Center organized by the Ministry of Finance to enable the people especially in the rural areas access and check the status of unclaimed money,” he said at the Dewan Rakyat sitting here today.

RM 5.96 Billion

He said this in reply to the question Datuk Ahmad Fauzi Zahari (BN-Setiawangsa) on the steps taken by the government to raise awareness of the existence of unclaimed money. He said that until October 31 this year, unclaimed sums were RM5.96 billion with 70 percent contributed by banking transactions such as savings account, current account and non-active savings account for over seven years.

For now, you still have to go to Accountant General Department with your identification card to claim your money.

When was the last time you checked your credit score? Well it would seem that Malaysians have a rather laid-back approach to managing their credit history. In fact, as many as 64% have never even looked at their credit report. That’s according to a survey by credit reporting agency RAMCI.

And despite almost 75% of people knowing what a credit report is, an astonishing 56% admitted that they didn’t know what the purpose of a credit score was and how it can impact their credit applications. But when it comes to finances, ignorance definitely isn’t bliss and having a poor credit score can seriously impact you being able to obtain credit in the future.

What is a credit score?

A credit score, created by a lender or credit reporting agency is a numerical picture of your credit profile. This credit score may be used by Maybank to evaluate a person’s credit worthiness for a credit card or loan and can even decide the interest rate you will have to pay.

However, many Malaysian banks have their individual method of calculating your credit score. Therefore, getting your loan request approved will greatly depend on which bank you apply to. Your creditor will calculate your credit score and use it to decide whether they will accept or deny your application.

What can hurt it?

There are a number of ways you can damage your credit score. Your spending habits or not paying your bills on time can seriously impact upon your credit score.

And not just that, it can mean that you cannot get more credit in the future. Here are some ways you could be harming your credit score.

Always being late to pay your bills will tell another bank that you will likely be late on their payments too. The more times you make a late payment, the more it will hurt your score.

Sharing finances with other people, or acting as a guarantor on someone else’s behalf, can be disastrous for your credit score rating. If they default or make a late payment, it will hit your credit score too.

While it may seem unfair, not owning a credit card or never taking out a loan does actually more harm than good. The score considers whether you have a reasonably lengthy history of managing your finances and credit commitments. So, the older your credit history, the more points you will accumulate.

Having credit applications rejected can have a serious and negative impact on your credit score rating. Therefore, try to only apply for credit when you need it, and when you are confident that you are going to get it.

How much you owe can greatly affect your scores, just as much as whether you make your repayments on time.

Take control of your credit profile

Even if you discover that you have a bad credit score, it is possible to turn it around. By working hard to pay your bills on time and reducing your credit card balances you can transform it to a healthy score.

Of course, you can still get by with a poor credit score, but achieving a high rating has many benefits and opportunities for low-interest loans in the future. But in order to improve your financial borrowing position you need to start by knowing your credit score.

A daunting prospect perhaps, but once you know your situation that Maybank loan could be just around the corner.